History of Federated Capital Corporation
Federated Capital Corporation ; formerly known as Federated Capital Reserve Corporation (FFRC), was founded in 1974 by Louis P. Ferris, Jr.. The original mission of FFRC was to offer tailored finance programs for various types of commercial equipment in the middle markets and big ticket – large transaction markets. In 1982, Lease Acceptance Corporation began signing small market transactions. The mission was fulfilled as FFRC captured the market in serving national manufacturers, dealers and vendors with industry specific finance programs that banks and other competition were unwilling or unable to offer.
As these programs grew, it produced a need for service specific companies, which FFRC formed to provide more diverse vertical markets. By 1990, through a combination of business acquisitions as well as organic growth, FFRC became a parent company to a number of specialty finance companies. In 1996, FFRC was sold to Nissho Iwai, a Fortune Global 50 Company with over $125 billion in annual transactional revenue.
Federated Capital Corporation
In December 2002, Mr. Ferris formed Federated Capital Corporation (FCC) and reacquired, over a period of 2 years, all of the assets of Federated Capital Corporation for a total asset value of approximately $200 million.
The reacquisition included the following companies: Franchise Capital Services, Lease Acceptance Corporation, Lease Track Inc., Manufacturers Commercial Finance Corporation, Franchise Capital Corporation, Radio Dealers Leasing, Leaseguard Insurance Company